Monitor the upcoming earnings call for details on margin trajectory and operating expense reduction. The CFO transition may prompt investor scrutiny on financial controls, but the strong revenue beat and guidance reaffirmation suggest operational momentum.
Price Chart
Executive Summary
SES AI reported Q1 2026 revenue of $6.7 million, a 47% sequential increase and above consensus, while reaffirming full-year guidance of $30–35 million. Gross margin improved to 18.1% from 11.3% in Q4 2025. CFO Jing Nealis is stepping down, succeeded by Yi (Ray) Liu, effective April 27, 2026.
Key Financial Metrics
Key Facts
- Q1 2026 revenue was $6.7 million, up 47% from Q4 2025 and above consensus
- Gross margin improved to 18.1% from 11.3% in Q4 2025
- Full-year 2026 revenue guidance reaffirmed at $30–35 million
- CFO Jing Nealis stepping down; Yi (Ray) Liu appointed as successor
- Company signed a $20 million, three-year distribution agreement with ATG EPower
Financial Impact
Revenue of $6.7 million, gross margin of 18.1%, liquidity of $178 million
Risk Factors
- CFO transition could signal internal instability despite management's positive framing
- Year-over-year gross margin declined from 78.7% in Q1 2025 due to shift in revenue mix
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 8 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001819142-26-000019 |
| Document: ses-20260423xex99d1.htm | 0001819142-26-000019 |
| Document: ses-20260423xex99d2.htm | 0001819142-26-000019 |
| Document: ses-20260423xex99d3.htm | 0001819142-26-000019 |
| Document: 0001819142-26-000019-index-headers.html | 0001819142-26-000019 |
| Document: 0001819142-26-000019-index.html | 0001819142-26-000019 |
| Document: 0001819142-26-000019.txt | 0001819142-26-000019 |
| 8-K Data (Synthetic) | 0001819142-26-000019 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 31, 2026 8w ago | 25-NSE | $0.5197 $0.5695 | ▼ −9.58% | ▼ −9.72% | $0.8049 (−54.88%) |
Jul 20, 2026 14w ago | 8-K | $0.5822 $0.5032 | ▲ +13.57% | ▲ +13.14% | $0.8049 (−38.25%) |
Apr 23, 2026 26w ago | 8-K | $0.3000 $0.0283 | ▼ −90.57% | ▼ −91.68% | $0.8049 (+168.30%) |
Apr 1, 2026 29w ago | 8-K | — | awaiting T+5 | — | — |
Mar 4, 2026 33w ago | 8-K | $1.08 $1.22 | ▲ +12.96% | ▲ +15.20% | $0.8049 (−25.47%) |
US Market Status
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